Italian regulator CONSOB warns against PBN Invest
Italy’s financial markets and services provider regulator CONSOB (Commissione Nazionale per le Società e la Borsa) has updated its list of forex brokers who are not licensed to operate in Italy with one new addition – PBN Invest. This broker has been offering investment services and activities to the Italian public without being authorized in the country.
Commissione Nazionale per le Società e la Borsa (CONSOB; Italian Companies and Exchange Commission) is the government authority of Italy responsible for regulating the Italian securities market. This includes the regulation of the Italian stock exchange, the Borsa Italiana.
PBN Invest is a forex and CFD broker that operates on the website www.pbninvest.com. The company is offering its clients a variety of currency pairs, including some indices, energy commodities, futures, shares, precious metals like gold and silver, as well as crypto CFDs. There are two entities behind this brand – Capital Tech Ltd – an offshore company based in the Marshall Islands and Pbox Ltd. based in Bulgaria. These two companies come with the regulation numbers on the website, although, there are no records of them being regulated by the Bulgarian Financial Supervision Commission.
In addition, there is an Austrian contact phone number provided and the website supports English, German and Italian languages, which proves that the broker has been targeting traders from these countries. The company is not regulated to provide its financial services in any of the EU countries, which is already a valid reason to avoid trading with PBN Invest.
When engaging with brokers that do not operate on the grounds of a valid license, issued from a trustworthy authority, traders are putting their investments at higher risk. It is better to avoid dealing with offshore brokerages and choose properly regulated and reliable brokers. A good example of such are the ones supervised by the FCA or ASIC.
You can read our review on this broker here.